- Citation :
- Bonjour,
En tant que lecteur attentif de votre site et amateur d'or,
je me permets de vous communiquer ce papier récent paru sur
Arab News.
On oublie que le Golfe persique est en train lui aussi de se
doter d'une forme de monnaie unique. Notre ami Ferdinand
Lips leur donne quelques conseils en la matière, et leur
suggère de revenir sur l'or.
Reste à savoir s'il sera écouté...
En espérant contribuer un peu au débat,
Bonne réception,
Voici le lien vers le texte, ainsi que l'article en question
au cas où il ne marcherait plus :
http://www.arabnews.com/?page=6§ion=0&article=64538&d=29&m=5&y=2005
*-*-*
GCC Urged to Peg Its Currency to Gold
*-*-*
P.V. Vivekanand, Arab News
SHARJAH, 29 May 2005 - The Gulf Cooperation Council (GCC)
should peg its proposed currency to gold rather than the
American dollar or euro in view of the currency fluctuations
in the international market, says an expert in currency and
gold.
Dr. Ferdinand Lips told a gathering in Dubai that the
history of gold shows that despite its ups and downs the
yellow metal has proved itself to be a "safe and tangible
investment option since the value of an ounce of gold is far
greater than currencies that are being devalued by the day."
Lips was delivering a lecture titled "Oil for gold or oil
for paper? Financial stability, gold and the ongoing rise in
commodity prices" organized by the Gulf Research Center
(GRC). "Being in the midst of a global currency devaluation
scenario, it is worth noting that while oil is the king of
commodities, gold is the king of money," Lips said, noting
that oil is under-priced and that oil producers are not
getting real value by pegging it to the dollar.
The lecture, attended by prominent members of the banking
and finance industry, dealt with how currencies, investments
and every crucial economic factor in the GCC countries are
dependent on the US dollar, which shows increasing signs of
structural weakness. The Gulf countries, Lips said, could
escape potential financial disaster by looking at certain
other investment alternatives.
Lips is the author of "Gold wars: The battle against sound
money as seen from a Swiss perspective," He said the GCC
banks could do well to set aside a certain percentage of
their reserves in gold and to learn from the European
Central Bank's mandatory 15 percent gold reserves rule.
Currently, the UAE and Qatar have sold all their reserves,
while Kuwait has lent gold and Saudi Arabia has low reserves
of some 200 tons. Lips also suggested that a monetary
institute be set up to create greater awareness of money and
emphasize the crucial need to return to "solid money." "Gold
is the insurance policy. When the rest of the world will go
down on the paper money system, invest at least one percent
in gold as insurance," stressed Lips, adding that today's
depreciation limits the purchasing power of paper
currencies, whereas gold is a highly liquid asset.
"Returning to gold as a standard will also put a limit to
what governments can do," he said. ///
_________________________________________________________________________________________________________________________
excellent apport cher lecteur ..
à mettre en corrélation d'ailleurs avec
le rapport :le role de l'or dans les pays du GCC qui montre s'il en est besoin que ces pays deviennent tres attentifs ( euphémisme ) à la situation particuliére de ce marché et qu'ils comptent bien en tirer profit .. au détriment des bc occidentales ..
ps :
GCC stands for Gulf Cooperation Council.
Its members are Saudi Arabia, Oman, UAE, Bahrain, Qatar and Kuwait. The GCC was founded at the beginning of the 80s as defense cooperation in the light of the Iran-Iraq war and gradually expanded cooperation to economic and cultural issues. This paper will be read, or is being read, by some of the most significant money players in the world. As this work is coming out of the Arab world itself, the financial people in these Arab countries will take its contents very seriously.
http://www.lemetropolecafe.com/img2005/Midas/The%20Role%20of%20Gold%20Digital.pdf______
ou en résumé :
From: GATAComm@a...
Date: Thu Mar 3, 2005 6:42 am
Subject: Dubai study warns oil producers that Western banks rig gold market
12:35a ET Thursday, March 3, 2005
Dear Friend of GATA and Gold:
A study published by a research foundation in Dubai
has endorsed the Gold Anti-Trust Action Committee's
findings that Western central and commercial banks
have rigged the gold market but have much less gold
than they claim to have and so are vulnerable to
rising demand for gold. The study recommends that the
oil-producing countries of the Middle East diversify
their ever-depreciating U.S. dollar holdings into gold.
The study, "The Role of Gold in the Unified Gulf
Cooperation Council Currency," was written by Eckart
Woertz, vice president of CFC Securities in Dubai, for
the Gulf Research Center. It quotes the work of GATA's
consultants, including Frank Veneroso, and predicts
that the gold price suppression scheme of the Western
banks will fail just as their similar scheme of the
1960s, the so-called London Gold Pool, failed when the
drain on Western gold reserves became too great. Once
the scheme fails, the study says, "it will be highly
difficult and expensive to accumulate a gold reserve.
This is especially true for central banks that have
low gold reserves like those in the Gulf Cooperation
Council countries."
The study concludes: "The paper dollar standard is a
dead man walking. Its debt, accumulated over the
recent decades, is too high to be effectively repaid.
It will either default or be inflated to such an
extent that it will not 'hurt' to pay it back.
Therefore, the accrued imbalances in global finance
and the inherent weakness of worldwide growth models
that rely on a continuance of U.S. deficit spending
are likely to usher in a serious crisis of currency
systems in coming years.
"Gold will be a suitable means of asset protection
and ultimate payment in such a scenario. It will
preserve the wealth of individuals and central banks
alike and will ensure important maneuverability for
the latter."
GATA believes that the study is likely to have a
profound influence on governments, banks, and
investors in the Middle East and may accomplish
there what the similar report by Sprott Asset
Management of Toronto -- "Not Free, Not Fair:
The Long-Term Manipulation of the Gold Price"
-- is accomplishing in the West.
The Middle East's oil-producing countries are
especially obliged to heed the Gulf Research
Center's study because their economies are
based on a wasting asset, oil, whose depletion
will leave them with little more than sand if
the payment they receive is substantially
depreciated or defaulted upon. In exchanging
a real asset for paper assets that represent
only unpayable debts, oil-producing countries
are at imminent risk of massive expropriation.
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